nep-cul New Economics Papers
on Cultural Economics
Issue of 2022‒11‒28
three papers chosen by
Roberto Zanola
Università degli Studi del Piemonte Orientale

  1. Predicting Non-Fungible Token (NFT) Collections: A Contextual Generative Approach By Wesley Joon-Wie Tann; Akhil Vuputuri; Ee-Chien Chang
  2. La partecipazione nei progetti culturali - un’analisi del modello gestionale del progetto Prospettive – territori d’arte By Monia Castellini; Cecilia Budoni
  3. Urban Regeneration Projects and Crime: Evidence from Glasgow By Daniel Borbely; Gennaro Rossi

  1. By: Wesley Joon-Wie Tann; Akhil Vuputuri; Ee-Chien Chang
    Abstract: Non-fungible tokens (NFTs) are digital assets stored on a blockchain representing real-world objects such as art or collectibles. It is a multibillion-dollar market, where the number of NFT collections increased over 100% in 2022; there are currently more than 80K collections on the Ethereum blockchain. Each collection, containing numerous tokens of a particular theme, has its unique characteristics. In this paper, we take a contextual generative approach that learns these diverse characteristics of NFT collections and generates the potential market value predictions of newly minted ones. We model NFTs as a series of transactions. First, meaningful contexts capturing the characteristics of various collections are derived using unsupervised learning. Next, our generative approach leverages these contexts to learn better characterizations of established NFT collections with differing market capitalization values. Finally, given a new collection in an early stage, the approach generates future transaction series for this emerging collection. Comprehensive experiments demonstrate that our approach closely predicts the potential value of NFT collections.
    Date: 2022–10
  2. By: Monia Castellini; Cecilia Budoni
    Abstract: I progetti culturali legati all’arte contemporanea presentano un grande potenziale culturale per i territori interessati e diverse sfide a livello manageriale. In uno scenario che vede la moltiplicazione degli attori nelle politiche culturali urbane, introdurre meccanismi partecipati risulta essere uno strumento efficace per coinvolgerli direttamente. Questa visione, cosí diffusa da aver sancito un vero e proprio partecipatory turn, permette un arricchimento per i territori, le aziende e gli artisti interessati. In questo senso, la stakeholder analysis e gli strumenti del project management sono mezzi utili per indagare in che modo questi processi vengano attuati, gestiti e quale sia il loro impatto in termini di valore prodotto per gli attori coinvolti. Il caso studio preso in esame è quello di Prospettive – territori d’arte, progetto di residenze artistiche in Emilia-Romagna. Esso presenta caratteristiche miste, tra mecenatismo e arte pubblica. I modi di concepire la governance di un territorio, di costruire percorsi partecipati e momenti di scambio fra i diversi attori in gioco lo rendono un caso di grande interesse.
    Keywords: Governance; participation; project management; stakeholder analysis; art projects/management
    JEL: L32 Z10
    Date: 2022–11–15
  3. By: Daniel Borbely (Economics Group, School of Business, University of Dundee, Dundee, UK); Gennaro Rossi (Department of Economics, University of Sheffield, 9 Mappin Str, Sheffield S1 4DT, UK)
    Abstract: This study investigates the effects of urban regeneration on crime, leveraging recent large-scale regeneration projects – called Transformational Regeneration Areas (TRAs) – in Glasgow, Scotland. We employ a difference-in-differences approach that makes use of variation in both the timing of TRA implementation, and in proximity to these areas to measure exposure to urban regeneration projects. Our findings are consistent with changing neighbourhood composition and the elimination of physical spaces that harbour criminal activity driving local crime reductions. We find a large and significant reduction in crime within 400 metres of TRAs but this effect fades as we move further away. Simultaneously, we find no evidence of city-wide reductions in crime after urban regeneration.
    Keywords: Crime, Housing, Spatial Spillovers, Urban Regeneration
    JEL: I38 R20 K42
    Date: 2022–11

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